Applied Optoelectronics (NASDAQ:AAOI) Sees Large Volume Increase – What’s Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) saw unusually-strong trading volume on Thursday . Approximately 2,289,524 shares changed hands during trading, a decline of 12% from the previous session’s volume of 2,613,313 shares.The stock last traded at $37.80 and had previously closed at $34.07.

Analysts Set New Price Targets

Several analysts have recently commented on AAOI shares. Rosenblatt Securities increased their target price on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a “buy” rating in a report on Friday, November 8th. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Northland Securities raised their target price on Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. B. Riley reduced their target price on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Raymond James raised their price target on Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.70.

Applied Optoelectronics Stock Performance

The company has a market cap of $1.65 billion, a price-to-earnings ratio of -18.35 and a beta of 1.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a 50-day moving average price of $18.19 and a 200 day moving average price of $12.81.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the sale, the insider now owns 118,122 shares in the company, valued at approximately $3,181,025.46. The trade was a 7.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors have recently bought and sold shares of AAOI. Westfield Capital Management Co. LP bought a new stake in shares of Applied Optoelectronics during the 3rd quarter worth approximately $19,019,000. Whale Rock Capital Management LLC bought a new stake in shares of Applied Optoelectronics during the 3rd quarter worth approximately $16,145,000. Shellback Capital LP bought a new stake in shares of Applied Optoelectronics during the 2nd quarter worth approximately $8,617,000. Royce & Associates LP raised its stake in shares of Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company’s stock worth $22,847,000 after purchasing an additional 515,489 shares in the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in shares of Applied Optoelectronics during the 3rd quarter worth approximately $6,470,000. Institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.